For More Information
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Contact: James F. Oliviero
KSW, Inc., (718) 340-1409
joliviero@ksww.com
FOR IMMEDIATE RELEASE
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KSW, INC. REPORTS FIRST QUARTER 2008 RESULTS
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DECLARES CASH DIVIDEND
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Long Island City, New York - May 2, 2008 - KSW, Inc. (NASDAQ: KSW) today
reported financial results for the first quarter of 2008. The Company also
announced that its Board of Directors has declared a cash dividend of $.20 per
share, payable on June 17, 2008 to shareholders of record as of May 26, 2008.
Total revenue for the first quarter of 2008 was $20,491,000 as compared to
$17,991,000 for the first quarter of 2007. Net income was $840,000 for the
first quarter of 2008 as compared to net income of $898,000 for the first
quarter of 2007. This represents earnings per share of $0.13 per share (basic
and diluted), for the first quarter of 2008 as compared to an earnings per share
of $0.15 per share (basic and diluted), for the first quarter of 2007.
As of March 31, 2008, the Company's backlog was approximately $127,300,000.
About KSW
KSW, Inc., through its wholly-owned subsidiary KSW Mechanical Services, Inc.,
furnishes and installs heating, ventilating and air conditioning (HVAC) systems
and process piping systems for institutional, industrial, commercial, high-rise
residential and public works projects. KSW Mechanical Services, Inc. also acts
as trade manager on larger construction projects, such as New York Presbyterian
Cardiovascular Center, and the Mount Sinai Center for Science and Medicine where
the Company is currently performing pre-construction services.
Safe Harbor Statement
Certain statements contained in this press release are not historical facts, and
constitute "forward-looking statements" (as such term is defined in the Private
Securities Litigation Reform Act of 1995). These forward looking statements
generally can be identified as
statements that include phrases such as "believe", "expect", "anticipate",
"intend", "plan", "foresee", "likely", "should", "will" or other similar words
or phrases. Such forward-looking statements concerning management's
expectations and other similar matters involve known and unknown risks,
uncertainties and other important factors that could cause the actual results to
differ materially from any future results, performance or achievements discussed
or implied by such forward-looking statements. Such risks, uncertainties, and
other important factors that could cause actual results to differ materially
from expectation of the Company include, those detailed in the Company's Annual
Report on Form 10-K for the year ended December 31, 2007. All written and oral
forward-looking statements of or attributable to the Company or persons acting
on behalf of the Company are qualified in their entirety by such factors. The
Company disclaims any obligation or undertaking to provide any updates or
revisions to any forward-looking statement to reflect any change in the
Company's expectations or any change in events, conditions or circumstances on
which the forward-looking statement is based.
Visit our website at www.kswmechanical.com.